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Debt Consolidation Loan - Recommendations?
creditcardnewbie
Posts: 150 Forumite
in Loans
Hello to you all,
I would like to know if anyone can recommend from their own experience any companies that they have used or any that they are aware of that 'specialise' in Unsecured Debt Consolidation loans? (I am not a homeowner)
I have a few small loan balances that I would like to pay off with one consolidation loan if possible.
I have done some research online but the majority of the loans seem to be for homeowners.
I do not meet the criteria for a loan with my own bank (Nationwide) at the moment and for other banks they mostly state that you need to have an account with them to be eligible.
Many thanks in advance for any recommendations you can pass on.
creditcardnewbie :beer:
I would like to know if anyone can recommend from their own experience any companies that they have used or any that they are aware of that 'specialise' in Unsecured Debt Consolidation loans? (I am not a homeowner)
I have a few small loan balances that I would like to pay off with one consolidation loan if possible.
I have done some research online but the majority of the loans seem to be for homeowners.
I do not meet the criteria for a loan with my own bank (Nationwide) at the moment and for other banks they mostly state that you need to have an account with them to be eligible.
Many thanks in advance for any recommendations you can pass on.
creditcardnewbie :beer:
0
Comments
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Don't do it. Debt consolidation never helps with repayment of debt and one large debt is often much harder to get rid of then several smaller ones. The best way of getting rid of unsecured loans short of overpaying them is moving them to a 0% money transfer card.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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You cannot borrow your way out of debt especially now that no half decent lender wants to lend you any money. Snowball your debts or if you're struggling to maintain your current repayments contact one of the debt charities, CAP UK, National Debtline or Step Change.
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